Massive layoffs are coming (not PIP). Could be in the 20~30% depending on your work location. Expecting to hear more in the next few months.
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20-30% is not too high. Xom can easily improve 20–30% efficiency by not working on the least important issues.
30% cut? What about the heavy drag and useless org called RTD? Why not cut them first?
Mr. Darren Woods, It is time to cut those who are draining the company including the ex-pat hungry and ex-pat addict serial offenders.
Bye bye Exploration and its retired in place, kolache eaters. Some have hung around waiting for retirement incentives since 2012.
Bye bye IOL and their profits sinking black holes.
Bye bye Deutschland, Australia and the UK.
Too bad we’ll keep all their managers.
Are there similar memos coming for downstream and chemicals?
Is this the memo from another thread?
Update on tough decisions to ensure Upstream competitiveness in uncertain times
Upstream colleagues,
We hope you and your family are doing well during these uniquely challenging times. While a lot has happened this year, we want to thank you again for all your hard work and efforts to support the business. Your ability to deliver strong operational performance and help us achieve our cost targets has been truly outstanding. Unfortunately, we continue to see prolonged negative market impacts that require us to make further changes so we are best positioned to take advantage of market improvements when they occur.
Over the last few years we reorganized our businesses by value chains as part of our strategy to return our company to industry-leading performance. While we have been working to lower our costs, the dramatic impact of COVID-19 on demand has further accelerated our need to adjust spending plans.
Our approach to reducing spend takes into account a few key principles: protect the safety and integrity of our operations, reduce all optional spending while preserving the high-value prospects, and close the cost gap with our competitors. In this regard, we have had study work underway in our high-cost countries to assess the potential for further cost reductions from organizational efficiencies and lower activity levels. As part of our commitment to transparency, we want to make it clear that these studies will include evaluation of appropriate staffing levels.
We recognize these efforts bring uncertainty and anxiety and are committed to share information as soon as we have it. While study efforts are ongoing, some country studies will be completed in the near term. As each study is complete, we will notify employees in that country of the findings. As you would expect, those employees will be the first to hear of any impacts in their country. When you see each country announcement, please know that it connects back to our strategy and focus on becoming the lowest-cost competitor.
While the pandemic and resulting impact on our industry has been severe, we’re proud of how you are supporting one another. Thank you for your dedication and hard work as we work to improve our competitiveness in these highly uncertain times. We are confident that we can come through this together and are committed to helping you understand the tough decisions we are making to strengthen our company.
Sincerely,
Linda DuCharme Liam Mallon
That would be a pos move for DW after what happened to all of these people.
Wow! I hope to be the lucky one! If memory serve me correctly, the payout is 1.5 months for each YOE! Of cause there will be a cap! Looking forward! Could use some Benjamins to invest into great companies!
I wouldn’t be too confident about that.
https://energynews.us/2020/08/28/midwest/sustainable-aviation-fuels-could-soon-take-flight/
Brown nosers will run the company, with their cheers and positivities. Don’t worry! Doubling on our earnings will happen with HOPE! That’s all EM needs!
There is work. And soon, those planes will be back flying and thirsty for jet fuel. Cars will be back in the street consuming fuel. Cruises will be sailing, consuming more fuel. Crude oil will be back to the 50-60s. We'll be happy to provide the fuel they need.
no
Who does the work has never been a question XOM asks. They just offshore the job and expect magic to occur.
If you want a flexible and robust company, you may need a 30% drop in population. Welcome to midstream!
Probably a different skillset to do divestment work anyway
What work?
20-30% sounds too high. Who will do the work?